Farm Credit of Western New York: Notebook: Financial Tips



	Consultant's Corner Leading the troops in your business Provided by Gary Snider, farm business consultant, Farm Credit of Western New York Best-selling author Stephen Ambrose not only wrote excellent historical accounts of World War II and other American events, he took care to analyze the reasons behind U.S. military success, such as good leadership, teamwork and effective mentoring of the rank and file. I believe that the same principles can be applied to managing a farm — or any other business for that matter — and I sometimes cite these principles in my business presentations. Take teamwork, for example … In his World War II book Citizen Soldier, Stephen Ambrose noted that the U.S. Army was made up of citizen soldiers who hailed from all walks of life. Most enlisted men had not trained to be soldiers until that very brief period of boot camp before they were sent overseas. During their training exercises, they learned to function as a team. As Ambrose notes, during training General Dwight Eisenhower’s leadership style set the tone. Soldiers were taught to get used to the idea of performing as a team and to support each other with teamwork. Ike’s organization encouraged loyalty among soldiers because the lives of individuals often depended upon the performance of the team as a whole. Everyone Contributes When teamwork is at play, everyone on the team is expected to contribute to accomplishment of the mission. As Ambrose wrote in the best-seller Citizen Soldier: “... the American army encouraged the free flow of ideas and the entrepreneurial spirit. Coming from a wide variety of sources, ideas generally flowed upward from the men actually engaged in battle.” What Ambrose suggested is that it’s not the generals who won the war, it was the ordinary soldiers whose actions in small, seemingly nondescript encounters added up to one huge victory for the Allies. Are there lessons here for ag business management? You bet there are. When managers teach employees about the importance of loyalty to the group, about the need for a free flow of ideas, and when managers encourage individuals to perform as a team, good things happen. You make it happen through effective training and ensuring that each individual understands his or her role in the overall mission. Business Owners as “Leaders” Business owners are leaders. If, like the great generals, you can capture your employees’ ingenuity and empower them to experience decision-making on their own, your “troops” will perform well whenever you confront a major business management challenge. The leader — like an Eisenhower or Patton — sets the tone and identifies the core values that will lead the company. It then becomes important for managers to recognize and reward achievements and suggestions from those in the ranks. Application of these principles in the everyday world of farm management can reap huge dividends and help ensure a dedicated, loyal workforce that guarantees a job well done. For more information, contact us at info@farmcreditwny.com today! monthly newsletter. Minimize taxes. 2001 Tax Act Year-end tax planning			Tax and Business Alert Credit - Loan or lease? Taxes - Businesses receive ... - Records: What to keep ... - 2001 Tax Act - Prepare now for ... - Alternative Minimum Tax - Education tax credits - Sales tax exemption - NY - Energy tax credit - NY - Year-end tax planning Management - How to price a branded... - How to be a better risk... - Financial Risk... - Leading the troops... - Start New Enterprise - 9 Business Succession... - A closer look - Loan officer - Building a business plan - Bus. management advice - Communication quiz - How to be a better risk... - 6 Public Relations Tips - Saving costs on energy... - Who needs a consultant? Estate Planning and Retirement - 13 Estate Planning Terms - Will you be "SHOCKED" ... - Avoid making these 7... - Do you need a will? - Estate planning tips - Knowing your net worth... Appraisal - Who needs an appraisal?
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